Twenty years after NAFTA, the failure of member countries to invest in adequate border infrastructure is catching up with us. To reverse the drag on our competitiveness, North America needs an infrastructure bank. To this end, Canada should join and lead the transformation of the North American Development Bank (NADB).

North America is a supply chain economy. Canadian exports to the U.S. contain an average of 25 per cent American content. The average car assembled in Ontario or the U.S. Midwest is built with parts that have crossed the Canada-U.S. border an average of seven times.

Whether due to congestion or inefficient customs processes, border delays undermine our competitiveness. These back-ups can add up to $800 to the cost of a North American-assembled vehicle.